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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) - USD ($)
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Earnings per share    
Stock options excluded from calculation of diluted EPS 1,400,000 1,800,000
Net loss $ (939,091) $ (944,345)
Preferred dividend requirements (176,249) (227,749)
Loss applicable to common shareholders $ (1,115,340) $ (1,172,094)
Average common shares outstanding 28,624,874 27,663,500
Average common and common equivalent shares outstanding - assuming dilution 28,624,874 27,663,500
Basic loss per share (in dollars per share) $ (0.04) $ (0.04)
Diluted loss per share (in dollars per share) $ (0.04) $ (0.04)